Nelson of Massey Knakal completes two all-cash deals totaling $6.792m

Massey Knakal Realty Services (MK) has recently completed the following sales: A five-story walk-up apartment building at 5 King St. in the West Village was sold in an all-cash transaction valued at $6.2 million.The 8,500 s/f irregular corner property contains 16 apartments. A retail unit has been proposed for the Sixth Ave. side, which would occupy 2,000 s/f above grade and 800 s/f below grade. The property sold for $729.41 per s/f to a local investor. MK partner James Nelson exclusively represented the seller and the firm was the sole broker. A two-story, mixed-use corner property at 154 Stanton St. on the Lower East Side was sold in an all-cash transaction valued at $3.28 million. The 25' x 67' property is currently set up with two stores on the ground floor and a commercial space above with a roofdeck. The property contains 3,100 s/f, with an existing 2,662 s/f of air rights, or 3,600 s/f of air rights with the proposed zoning. It was delivered vacant and sold for $1,058 per s/f. MK broker Michael DeCheser exclusively represented the seller. MK and Elizabeth Juviler of Tungsten Properties were the brokers. A total of 16 421-A real estate tax exemption certificates have been sold in an all-cash transaction valued at $592,000 ($37,000 each). The 421-A certificates allow real estate tax exemptions to newly constructed class A multiple dwellings with three units or more, including apartment rental buildings, cooperatives and condominiums in the city, south of 96th St. Nelson also exclusively represented the seller and the firm was the sole broker.